May 3, 2023 UPDATE
A roundup of domestic and international news
Newsroom, 03.05.2023, 20:00
BANK – The
foreign currency reserves of the National Bank of Romania were in excess of EUR
53 bln at the end of April, up 0.21% compared to the previous month. The gold
reserves stay at 103.6 tons. High forex reserves ensure investor confidence,
analysts explain, adding that this was mostly due to EU fund receipts.
UNEMPLOYMENT
– The unemployment rate in Romania dropped slightly, from 5.5% in February to
5.4% in March, but unemployment among youth remains high, at 22.2%, the
National Statistics Institute reports. The number of people between the ages of
15 and 74 receiving unemployment benefits in March was over 453,000, a decrease
compared both to the previous month of this year and to the corresponding
period in 2022. Among men, the rate was 5.8%, whereas the proportion of unemployed
women was 5%. For adults aged 25 to 74, the unemployment rate stood at 4.4%.
SOLIDARITY
TAX – The Chamber of Deputies on Wednesday passed a decree introducing a
solidarity tax to be levied on companies operating in the field of extracting
and refining oil, natural gas and coal. On Tuesday, the Senate reexamined the
law, eliminating the 60% contribution from the companies’ excess profits.
However, under an amendment tabled by coalition parties, a €70 fee per ton of
refined oil has been added. Companies that reported no production in the
2018-2021 period are exempt from this tax. The USR opposition party has
criticized the law, arguing it is designed to exempt certain companies from
paying this tax.
MILK -
Nearly 80% of Romanian milk processors have signed an agreement designed to
reduce shelf prices for this product, the Competition Council announced on
Wednesday. The agreement has come into force at the start of May, but some
price drop-offs are lower because contracts between retailers and processors
are still being renegotiated. Over the next 6 months, processors and traders pledged
to share a reduction in milk prices when shelf prices exceed €1.4, which could
prompt a 20% drop in prices.
INCIDENT
– Eight children and a security guard are dead after a shooting in a school in
Belgrade. According to local police, a 14-year-old student has been arrested in
connection to the attack. The incident caused a public shock in Serbia, where
despite the large number of gun permits, shootings are very rare and have never
before occurred in schools. The authorities have decreed a three-day national
mourning in memory of the victims.
GRAIN – The
European Commission announced exceptional and temporary measures on imports of
a limited number of products from Ukraine. They concern only 4 products-wheat,
maize, rapeseed and sunflower seed-and are designed to alleviate logistical bottlenecks
concerning these products in Bulgaria, Hungary, Poland, Romania and Slovakia.
Meanwhile, Romania will receive an additional EUR 30 bln to support farmers
affected by the cheap grains imports from Ukraine. Stay tuned for details after
the news.
CORONATION
– Margareta, Custodian of the Crown of Romania, and the Prince Consort, will
take part on Saturday in the coronation of King Charles III of the United
Kingdom of Great Britain and Northern Ireland, the Royal House of Romania
announced on Wednesday in a Facebook post. In the 157 years of existence of the
Royal House of Romania, the connection with the British royal family has been
steady, based on admiration, respect and affection, both in its official
dimension, representing the two nations, and in its private, family aspect,
reads the post. The Royal House adds that this reliable relationship has
spanned the 19th, 20th and 21st centuries and
five generations.
(AMP & VP)
